Turning Point Brands (NYSE:TPB) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Turning Point Brands (NYSE:TPB) from a hold rating to a strong sell rating in a research note released on Saturday morning, Zacks.com reports.

According to Zacks, “Turning Point Brands, Inc. provides tobacco products. The Company’s product consists of moist snuff, loose leaf chewing tobacco, cigarette papers, make-your-own cigar wraps and cigar smoking tobacco, cigars and liquid and tobacco vapour. Its portfolio of brands includes Zig-Zag(R), Beech-Nut(R) and Stoker’s(R). Turning Point Brands, Inc. is based in Louisville, Kentucky. “

A number of other equities analysts also recently weighed in on the stock. B. Riley lifted their target price on shares of Turning Point Brands from $59.00 to $63.00 and gave the stock a buy rating in a research note on Thursday, February 11th. Cowen lifted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, February 11th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $55.40.

TPB stock opened at $47.86 on Friday. The company has a fifty day moving average price of $50.42 and a 200-day moving average price of $45.80. The company has a market capitalization of $913.12 million, a P/E ratio of 116.73 and a beta of 0.58. Turning Point Brands has a 52-week low of $20.82 and a 52-week high of $61.08. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.77 and a current ratio of 3.10.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Monday, April 26th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.16. The firm had revenue of $107.60 million during the quarter, compared to the consensus estimate of $100.14 million. Turning Point Brands had a net margin of 2.11% and a return on equity of 42.60%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. As a group, sell-side analysts forecast that Turning Point Brands will post 2.6 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Friday, March 19th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.46%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, March 18th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.83%.

A number of large investors have recently bought and sold shares of TPB. Cutler Group LP grew its holdings in Turning Point Brands by 328.6% in the fourth quarter. Cutler Group LP now owns 3,000 shares of the company’s stock worth $133,000 after purchasing an additional 2,300 shares during the period. Strs Ohio acquired a new stake in Turning Point Brands in the fourth quarter worth $294,000. Toth Financial Advisory Corp grew its holdings in Turning Point Brands by 19.1% in the fourth quarter. Toth Financial Advisory Corp now owns 11,615 shares of the company’s stock worth $518,000 after purchasing an additional 1,865 shares during the period. Victory Capital Management Inc. acquired a new stake in Turning Point Brands in the fourth quarter worth $266,000. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in Turning Point Brands in the fourth quarter worth $1,043,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand.

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